Daniel Larose, MD, is an orthopedic surgeon and sports medicine specialist at Miller Orthopedic Specialists in Omaha. Here, he discusses how surgeons are navigating the changing healthcare environment and challenges of consolidation in the field.
Dr. Larose is speaking on a panel titled "Key Thoughts on Thriving in a Consolidating World" at the Becker’s 15th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference + The Future of Spine on June 22 to 24, 2017 in Chicago. Click here to learn more and register.
Q: How are spine, orthopedic and pain physicians navigating the challenges associated with consolidation in healthcare?
Dr. Daniel Larose: Our main strategies to remain relevant in the era of consolidation are a) diversify referral basis, relying only on few groups of physicians for referrals is risky; b) market directly to patients and increase the percentage of your patients self-referring; and c) make sure to offer high quality care and up-to-date treatment that patient are more and more asking for and researching.
Q: In what situations is it smarter for independent physicians to merge or sell? When should they stay independent?
DL: Certainly it's a case-by-case, market-by-market decision. So far we have favored internal growth where we can mold new physician to the practice's culture. The timing of a merger is critical but at this point our group's strategy has been internal growth therefore avoiding the merger's potential pitfalls.